A Typical Payrolls week
by John on 03/12/08 at 3:45 pm
Usually on the week when the Non Farm Payrolls are released there’s not much opportunities until the report comes out.
The Nonfarm Payrolls come out on the first Friday of every month, and since this is the most important economic indicator for the Forex market, usually currencies stay in a range market until Friday:
As you can see in this chart, this week the EUR/USD went nowhere. This kind of market offers less opportunities to make money, and much more false signals (especially for breakout traders).
Then on Friday, volatility will be pretty wild (like it usually does) which makes nearly impossible to place your orders when the nonfarm payrolls are released.
